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(1) You skipped this question in the previous attempt. Required information Problem 19-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods
(1) You skipped this question in the previous attempt. Required information Problem 19-2A (Algo) Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Additional Information a. Raw Materials Inventory has a March 31 balance of $86,000. b. Raw materials purchases in April are $515,000, and total factory payroll cost in April is $378,000. c. Actual overhead costs incurred in April are indirect materials, $53,750; indirect labor, $26,750; factory rent, $35,750; factory utilities, $22,750; and factory equipment depreciation, $54,750. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $650,000 cash in April. Problem 19-2A (Algo) Part 5 5-a. Compute gross profit for April. 5-b. Show how the three inventory accounts are reported on the April 30 balance sheet
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